Lyft, Inc. (NASDAQ:LYFT) Position Lifted by Centiva Capital LP

Centiva Capital LP grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 511.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,599 shares of the ride-sharing company's stock after acquiring an additional 287,377 shares during the period. Centiva Capital LP owned about 0.08% of Lyft worth $4,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp grew its stake in Lyft by 14.0% in the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company's stock worth $5,146,000 after purchasing an additional 49,138 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Lyft by 32.4% in the 4th quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock worth $121,369,000 after acquiring an additional 2,302,248 shares in the last quarter. Paragon Capital Management Inc. acquired a new position in shares of Lyft in the 4th quarter worth approximately $1,681,000. Renaissance Technologies LLC increased its holdings in shares of Lyft by 282.0% in the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock valued at $111,240,000 after acquiring an additional 6,365,727 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Lyft by 1,957.5% during the 4th quarter. Federated Hermes Inc. now owns 288,827 shares of the ride-sharing company's stock valued at $3,726,000 after acquiring an additional 274,789 shares in the last quarter. Institutional investors own 83.07% of the company's stock.

Insiders Place Their Bets

In other news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $12.45, for a total value of $283,063.20. Following the completion of the sale, the insider now directly owns 959,697 shares of the company's stock, valued at approximately $11,948,227.65. This represents a 2.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,143 shares of company stock worth $486,841. Company insiders own 3.07% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays lowered their target price on shares of Lyft from $20.00 to $19.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lyft in a research report on Thursday, April 17th. DA Davidson reissued a "neutral" rating and issued a $15.00 target price on shares of Lyft in a report on Wednesday, April 16th. Bank of America lowered Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price for the company. in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. cut their price target on Lyft from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $16.45.

Lyft Trading Up 4.3 %

Lyft stock opened at $13.20 on Tuesday. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The firm's 50 day moving average price is $11.76 and its two-hundred day moving average price is $13.59. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 220.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. On average, research analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its board has approved a stock repurchase program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to repurchase up to 8.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its stock is undervalued.

Lyft Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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